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De Beers’ diamond production up 4% in Q3
Anglo American announces production update
By: Diamond World News Service
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Oct 28 2016 10:13AM
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Reference: 13571  

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Anglo American Corp announced the production performance for the third quarter of 2016. At De Beers, diamond production for the period increased by four percent to 6.3 million carats compared with the third quarter of 2015 when production was reduced in response to the prevailing trading conditions.

For the year to date period, production at De Beers stood at 19.6 million carats, dropping 9 percent from the same period the previous year.

Speaking of the overall company performance, Mark Cutifani, Anglo American Chief Executive, said “Operational improvements continue across the portfolio, delivering a 4% production increase on a copper equivalent basis(9) in the third quarter, and a 12% increase compared to Q2 2016. The latter increase is largely due to the strong recovery at Kumba’s Sishen mine, a 46% production increase, following the successful completion of its restructuring. In our diamond and platinum businesses we continue to maintain discipline on volumes by mining to demand, whilst the ramp-ups at Minas-Rio and Grosvenor are progressing well, and Barro Alto has now reached nameplate capacity. The modestly higher production at De Beers is reflective of improved market conditions relative to Q3 2015, but we maintain a cautious outlook.”

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